U.S. house prices rose in May, up 0.4% from the previous month, according to the Federal Housing Finance Agency (FHFA) seasonally adjusted monthly House Price Index (HPI). The previously reported 0.7% increase in April was revised downward to reflect a 0.6% increase.
The FHFA monthly HPI is calculated using home sales price information from mortgages sold to, or guaranteed by, Fannie Mae and Freddie Mac. From May 2016 to May 2017, house prices were up 6.9%.
For the nine census divisions, seasonally adjusted monthly price changes from April 2017 to May 2017 ranged from -0.5% in the Middle Atlantic division to +1.0% in the West South Central division. The 12-month changes were all positive, ranging from +4.0% in the Middle Atlantic division to +8.7% in the Pacific division.
